CKC Capital LLC

Item 5 - Fees and Compensation

A. Fees and Compensation

   Below is a discussion of how the Adviser is compensated in connection with providing advisory
   services to its Clients. The Adviser may enter into different fee arrangements on a Client by
   Client basis and each Client’s offering document, and any side letter agreed to by the Adviser
   or its affiliates with Investors, sets forth the specific fee structure (including how and when fees
   are calculated, charged and paid).

   Management Fees. With respect to the CKC Funds, the Adviser’s asset-based compensation
   takes the form of a management fee paid by the applicable master fund in which each CKC
   Fund invests. For the Opportunity Funds, it is calculated at an annual rate of 1.5% for Series
   One investors and 1% for the Institutional Series investors of the value of each Investor’s
   investment capital. The Opportunity Funds’ management fee is paid quarterly in advance. For
   the Strategic Funds, management fee is calculated at an annual rate of 1.0% and is paid monthly
   in advance based on the value of each applicable Investor’s capital account/shares, as
   applicable. The management fee will be adjusted for contributions and withdrawals/
   redemptions made during the period without accrual for any performance-based allocation and
   fees, if any.

   With respect to the Rosedale Fund, the Adviser’s asset-based compensation takes the form of
   a monthly management fee calculated at an annual rate of 1.0% of the value of each applicable
   Investor’s investment capital. The Rosedale Fund management fee is paid monthly in advance.
   The management fee will be adjusted for contributions and withdrawals/redemptions made
   during the period without accrual for any performance-based allocation and fees, if any.

    The “Accounts” each has its own management fee structure as per the governing docs.
   Performance-based allocation and fees. With respect to the Funds, the Adviser’s performance-
   based compensation takes the form of an annual performance-based allocation or fee equal to
   20% of the net profits for the Series One investors, 12.5% for the Institutional Series investors
   in the Opportunity Funds, 12.5% of the net profit for the Strategic Funds and 20% of the net
   profit for the Rosedale Fund achieved by the applicable Investor’s investment. The
   performance- based allocation or fee is subject to a “high watermark” that requires the Adviser
   to recoup cumulative losses from prior calculation periods before performance-based allocation
   are made and fees are due. Performance-based allocations or fees are generally calculated and
   paid annually and at the time of redemption, with respect to the amount redeemed. Additional
   terms related to the performance-based fee applicable to Funds are described in each Fund’s
   offering documents.

   In addition, for subscriptions made on or after July 1, 2017, Opportunity Funds’ Investors will
   be subject to an additional fee in the event an Opportunity Funds’ Investor withdraws any portion
   of each subscription the investor makes prior to the one-year anniversary of the applicable
   subscription. The additional fee will be equal to 3% of the redemption proceeds. Strategic
   Funds’ Investors who withdraw within the one-year anniversary of the applicable subscription,
   will be subject to an additional fee that will be equal to 3% of the redemption proceeds.
   Subscriptions made by members employees and affiliates of the Adviser and/or the CKC Fund
   general partner will not be subject to the lock-up period or any withdrawal fees.

   The “Accounts” each has its own performance fee structure as per the governing docs.

   The Adviser may, in its discretion, reduce, waive or modify any management or performance-
   based fees with respect to its principals, employees or any family member of such persons, with
   respect to such persons associated with the Adviser’s affiliates and with respect to certain other
   Investors.

   The Adviser compensates placement agents from the management and/or performance-based
   allocations or fees the Adviser receives in exchange for the placement agents’ assistance with
   the solicitation of Investors for investment in the Funds.

B. How Fees are Charged

   In addition to the information above related to the calculation and timing of management and
   performance-based allocations or fee payments, allocations or fees charged to the Funds and
   Accounts are deducted directly by a third-party administrator who is responsible for calculating
   the allocations or fees. The Adviser reviews and approves the calculations received from the
   administrator with respect to the Funds.

C. Expenses

   In addition to the fees described above, other investment and operating expenses to which
   Clients may be subject generally include, but are not limited to: brokerage commissions, mark-
   ups, markdowns, spreads and other transactional costs; interest expense; custody fees; bank
   service fees; borrowing charges on securities sold short; organizational, communication, data
   services, printing, mailing and filing costs and expenses; government filing fees; taxes (if any);
   custodial, administration, legal, compliance, accounting (including third party accounting
   services), audit and tax preparation fees and expenses; third-party advisor fees and expenses;
   research expenses and direct or indirect costs of investigating potential investments (including
   travel); due diligence costs and expenses; third-party fees; Client related insurance costs
   (including D&O and E&O insurance, if any, for the Adviser and the applicable affiliates and
   outside directorship liability, as applicable) and expenses incurred in connection with the
   purchase, sale and preservation or transmittal of Client assets; and any other operating expenses
...

Item 7 - Types of Clients

The Adviser provides investment advisory and management services to private funds, separately
managed accounts and PVs as described above. These services are provided in accordance with each
fund’s/account’s investment objective, strategies, restrictions and guidelines.